Public Limited Company – PLC
We can incorporate a PLC for you with your own choice of name. The primary difference between Public Limited Company (PLC) and a Private Limited Company (Ltd) is the Public Company’s shares may be offered for sale to the public.
PLC Fees to Incorporate
- Company Formation – £560
- Registered Office Fee – £600
- Company Secretary required – £1000
- No residency requirements for the shareholders or directors
- There must be a minimum of 2 directors
- A director can be of any nationality
- At least one shareholder
- All companies must appoint a qualified Company Secretary
- Share Capital of £50,000 of which 25% must be paid up
- The company is required to have a Registered Office in the UK
Starting Trading as a PLC – Certificate to Commence Trading
A PLC must not begin business or exercise any borrowing powers until it has a certificate issued under Companies Act confirming that the company has an issued Share Capital of £50,000. We obtain this certificate from Companies House and once issued, the certificate is proof that the company is entitled to commence trading and borrow.
A PLC must have a minimum issued capital of £50,000. At least £12,500 of this must be fully paid up before the Registrar of Companies can issue a Certificate for Commencement of Trading. The certificate must be issued before your company commences any business transactions or borrowing, conduct business or exercise borrowing powers unless it has obtained a Trading Certificate from Companies House, confirming that it has the minimum allotted share capital.
Public Limited Companies
A public limited company must comply with the following:
- It must state that it is a public limited company in its company name.
- The memorandum must contain a clause stating that it is a public limited company and the name must end with PLC
- It must have an issued share capital of at least £50,000 of which 25% must be paid up.
Advantage of a Public Company
A PLC has access to capital markets and can offer its shares for sale to the public and can also place advertisements offering its securities for sale to the public.
The prestige of having “PLC” at the end of your company name is substantial.
- Access to capital markets
- Increased status because of the larger capital base
- Limited liability for shareholders
- Heightened public profile
- Incentive and rewards for employees – by the use of share options
- Increasing the company’s ability to make acquisitions – its shares can be used as currency
- Enhanced status with customers and suppliers
- Any nationality can be a director or shareholder
We have PLC’s available immediately, fully inclusive of all necessary documentation. In addition we have 50+ aged shelf companies up to 20 years old, which can be converted to PLC.
Access to Capital
- Your public company can raise capital for growth
- Listing of shares provides a broader equity base for your company
- Offering shares to the public means your company can attract more funding
- Liquidity is created for investors and provides them the option to trade their shares
- Your company can create a market for its shares by being public, the shares will thus have a market value and can be traded
Company Secretarial Services
Every public limited company must have a qualified or experienced Company Secretary. We will provide your PLC with Company Secretarial services to ensure that the statutory requirements are fulfilled, and with good governance, remains in good standing and compliant with UK law.
We provide a company secretarial service to ensure that important statutory requirements are fulfilled, including the filing of the confirmation statement (annual returns) and accounts.
As your company secretary our duties will include:
- Maintaining the register of directors and secretary
- Issuing share certificates and recording transfers of shares
- Maintaining the register of shareholders and debenture holders
- Arranging for charges to be registered and recorded in the register of charges
- Filing of documents at the Companies Registration Office including changes of registered office, changes of directors and/or secretary
As your company secretary we can also offer the preparation and submission of the confirmation statement , where necessary, showing the details of the directors, secretary, shareholders and any share transfers that occurred during the previous year.
- Keeping, and making available for inspection, the company’s registers on behalf of the directors, including the:
- Register of member
- Register of directors’ and secretary’s interests
- Ensuring that documents are filed with the Registrar of Companies within the prescribed time limits such as the company’s annual and other returns
Maintaining Statutory Registers
As your company secretary we can maintain your statutory registers which include:
- The register of members – unless external Registrar is used
- The register of directors and secretaries
- The register of directors’ interests
- The register of charges
We will make our UK address available as the Registered Office of your PLC. Inland Revenue and the Registrar of Companies official documents will be served at the Registered Office.
UK Tax Agent
We will obtain a Corporation Tax Inland Revenue Tax ID for your company.
Use of UK Company Secretaries Ltd (our subsidiary) as your UK Tax Agent.
We will then deal with all your company tax correspondence with the H M Revenue & Customs.
- The HMRC will then correspond direct with you and UK Company Secretaries Ltd regarding all of the taxation affairs of your company
- We will deal with the initial registration forms received from H M Revenue & Customs upon incorporation
- We will advise you and submit your companies annual Corporation Tax return
The Confirmation Statement contains information about your company’s directors, company secretary, registered office address, shareholders and share capital. To ensure that your company remains in good standing we will advise when your Confirmation Statement is due.
Your Confirmation Statement will contain:
- Name of your Company
- Registered Number
- Principal Business Activity of the Company
- Date to which the Confirmation Statement is made-up to
- Registered Office Address of the Company
- Details of the Company Secretary
- Details of all the Company Directors who served during the year
- The Single Alternative Inspection Location (SAIL), is an alternative address to the Company’s Registered Office where companies shareholder records can be kept and made available for inspection
As company secretary we can deal with the notifications to the UK registry concerning the appointments and terminations of the company directors as notified to us through written and signed resolutions.
PROtected Online Filing Scheme – PROOF
We will apply for a government authentication code for your PLC so we can file documents electronically with Companies House. It is an online filing service, it enables companies to protect themselves from unauthorised changes to their company’s record. These include documents for an appointment, termination or change of particulars of the company directors and persons of significant control.
Service Addresses for Directors of your PLC
We offer a service address facility which protects the privacy of your director’s home addresses.
Directors of your company can use our address as the service address for the purposes of public records and for official documents to be served.
This facility will:
- Protect privacy of your director’s home address
- Achieve a greater degree of separation between work and home
- Preserve independence from the company, particularly important for directors given correspondence they might receive from shareholders or investors on confidential matters
- Make better use of a director’s time as, unless requested otherwise, we will filter correspondence received and only forward official correspondence
- Ensure matters are dealt with in a timely fashion, when official documents are formally served at our office, we will ensure they are forwarded confidentially without delay